Rudy Fernandez, Dimiris Diamantidis, Nenad Krstic, Ante Tomic and Vassilis Spanoulis headline the 2013 All-Euroleague First Team.

On the All-Euroleage Second Team are Shawn James, Juan Carlos Navarro, Milos Teodosic, Viktor Khryapa and Nikola Mirotic.

CSKA, Barcelona, Olympiacos, Panathinaikos, Real Madrid and Maccabi were the six teams with first and second team representatives.

The Euroleague Top-16 groups have been set with Real Madrid headlining Group E and Maccabi Tel Aviv in Group F.

Group E
Real Madrid
Zalgiris Kaunas
Unicaja Malaga
CSKA
Panathinaikos
Anadolu Efes
ALBA Berlin
Brose Baskets

Group F 
Maccabi Electra Tel Aviv
F.C. Barcelona Regal
BC Khimki Moscow
Olympiacos
Montepaschi Siena
Besiktas
Fenerbahce Ulker
Caja Laboral 

Jason Kapono is close to finalizing a free agent contract with Panathinaikos.

Kapono, 31, was waived by the Cleveland Cavaliers last season after being acquired in a trade that sent Ramon Sessions and Christian Eyenga to the Lakers.

Kenyon Martin has turned down a contract offer to sign with Panathinaikos of Greece, according to a source.

Martin continues to look for an NBA contract. Conversations remain ongoing, but no contract for Martin is imminent.

Martin spent parts of last season in China and with the Los Angeles Clippers.

Hilton Armstrong announced Thursday morning that will be joining Panathianakos of the Greek League.

Armstrong worked out for the Nets on Wednesday.

Armstrong, 27, was selected with the 12th overall pick of the 2006 NBA draft.

Lou Amundson continues to explore offers from NBA teams, but is also in talks with Panathinaikos of Greece.

Amundson played for the Pacers last season.

Panathinaikos has expressed interest in signing Anthony Tolliver for the upcoming season, Tolliver’s agent, Larry Fox, confirmed Sunday.

"Panathinaikos has definitely expressed strong interest and their coaching staff loves Anthony (Tolliver)," Fox said. "While Anthony is flattered by their interest and the potential economics behind it, we are currently in discussions with several NBA teams. While we won't rule out Greece, the interest level from the NBA remains strong and we are continuing to pursue those options."

Tolliver, a 6-foot-8, 240 pound forward, is a four-year NBA veteran who averaged 4.1 points on 39 percent shooting last season for the Timberwolves.

Panathinaikos is interested in signing Ben Wallace.

Wallace remains an unrestricted NBA free agent and is undecided on his future for what would be his 17th season.

Roko Ukic has agreed to terms on a two-year contract with Panathinaikos.

The 6-foot-5 Ukic averaged 11.1 points and 2.1 assists for Fenerbahce Ulker last season.

Ukic has spent time with the Raptors, Bucks, Lottomatica Roma, FC Barcelona and Tau Ceramica.

Panathinaikos is reportedly interested in signing Sun Yue, who was selected by the Lakers in the second round of the 2007 NBA draft.

Yue, a 6-foot-9 guard, is expected to start for the Chinese national team at the London Olympics.

Yue most recently played for the Beijing Olympians of the American Basketball Association.